Certified Fraud Examiner CFE-Financial-Transactions-and-Fraud-Schemes Dumps | Updated Sep 02, 2021 - VCEEngine
Master 2021 Latest The Questions Certified Fraud Examiner and Pass CFE-Financial-Transactions-and-Fraud-Schemes Real Exam!
NEW QUESTION 89
A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:
- A. Bid opening
- B. Bid pooling
- C. Fictitious Bidding
- D. Bid log
Answer: B
NEW QUESTION 90
___________ and __________ are used to increase (or decrease) the equity account.
- A. Journal Entries & Credit
- B. None of all
- C. Journal Entries & Debit
- D. Journal Entries & transactions
Answer: D
NEW QUESTION 91
Which of the following is NOT standard of generally accepted accounting principles?
- A. Full disclosure
- B. Cost
- C. Quality control
- D. Conservatism
Answer: C
NEW QUESTION 92
Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?
- A. Fraudster sale
- B. Whole sale
- C. Preliminary sale
- D. Fake sale
Answer: D
NEW QUESTION 93
The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:
- A. Reliance billing
- B. Bogus claims
- C. Misappropriate claims
- D. Billing scheme
Answer: B
NEW QUESTION 94
Conflict of interest cases are more easily prevented than detected.
- A. True
- B. False
Answer: A
NEW QUESTION 95
__________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.
- A. Corruption
- B. Bribery
- C. Diverting business to vendors
- D. Lacking approval authority
Answer: B
NEW QUESTION 96
________ increase assets and expenses and/or decrease liabilities and/or equity
- A. Debit
- B. None of all
- C. Credit
- D. Journal Entries
Answer: A
NEW QUESTION 97
When employees avoid detection in a refund scheme to keep the sizes of the disbursement low, is referred to:
- A. Very small disbursements
- B. None of the above
- C. Small disbursements
- D. Simple disbursements
Answer: C
NEW QUESTION 98
Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called:
- A. Financial record
- B. Depreciations
- C. Accruals
- D. Expenses
Answer: C
NEW QUESTION 99
When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:
- A. Out-of-balance
- B. False balance
- C. None of all
- D. Forced Balance
Answer: D
NEW QUESTION 100
A running count that records how much inventory should be on hand is referred to:
- A. Altered inventory
- B. Shrinking inventory
- C. Perpetual inventory
- D. Fictitious inventory
Answer: C
NEW QUESTION 101
The behavior profile of employees who are involved in bribery schemes may include:
- A. All of the above
- B. Extravagant lifestyle
- C. Drug and/or alcohol addiction
- D. Gambling habit
Answer: A
NEW QUESTION 102
Which of the following is not the skimming scheme?
- A. Understand sales and receivables
- B. Unrecorded sales
- C. Theft of checks through the mail
- D. Fraud & Cost
Answer: D
NEW QUESTION 103
Another way to eliminate competition in the solicitation phase of the selection process is to:
- A. Solicit bid from fictitious suppliers
- B. None of the above
- C. Solicit transaction from fictitious vendors
- D. Solicit bid-splitting from fictitious vendors
Answer: A
NEW QUESTION 104
The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.
- A. Employee theft
- B. Internal audits
- C. Recorded sales
- D. Occupational frauds
Answer: A
NEW QUESTION 105
________, one of the Fraud synonyms implies that deceiving so thoroughly as to obscure the truth:
- A. Delude
- B. Beguile
- C. Deceive
- D. Mislead
Answer: A
NEW QUESTION 106
Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
- A. Short-term skimming
- B. Concealing the fraud
- C. All of the above
- D. Converting stolen checks
Answer: A
NEW QUESTION 107
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
- A. At least two
- B. None of above
- C. More than two
- D. One
Answer: D
NEW QUESTION 108
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